A few days ago, the Pepco chain added a new point of sale in Greece, in cooperation with Premia Properties SA. The new store is located in Peania, in a building owned by Premia with a lease term of 10 years. It covers an area of 555 sqm and has a ground floor parking area for better customer service.
It is noted that Premia Properties had entered into an agreement with the Polish clothing and home furnishings speaker for the construction and development of the store earlier this year. Now, the chain counts a total of 27 outlets in Greece, while its presence extends to 17 countries in Europe, with more than 4,600 stores.
A further 400 new points are to be added to the Polish group's pan-European network in the current 12-month financial year, following the addition of 668 stores in the financial year that ended at the end of September.
The group is cautiously optimistic about the prospects for further strengthening of its figures through 2024, estimating that inflationary pressures on Central and Eastern European households will gradually ease. This development is expected to have a direct positive impact on the group's margin improvement, following a year in which record sales were achieved.
In particular, the twelve months ended 30 September 2023 marked a 17.7% year-on-year increase in Pepco group turnover to €5.64 billion, while only the namesake chain had a 6.3% increase in turnover on a comparable basis. The group's gross profit increased by 15.3% in the period under review, reaching 2.26 billion euros, while EBITDA improved by 3.1%, to 753 million euros.
However, a decline of -33.7% was recorded in the group's profit before tax, which fell to 202 million euros, from 253 million euros in the previous financial year. In addition, its net debt increased to EUR 411 million in FY2023, up from EUR 275 million in FY2022, largely fueled by the expansion of the Pepco and Poundland store network across Europe.
Ακολουθήστε το Business Daily στο Google news 
